Bearish flow noted in Wayfair (W) with 3,183 puts trading, or 1.5x expected. Most active are 1/31 weekly 45 puts and Feb-25 50 calls, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 1.80, while ATM IV is up over 2 points on the day. Earnings are expected on February 20th.
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